BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Internal Stakeholders: They are a part of the management of the company and have voting powers. They are the major investors in the company and a part of the board of directors. Therefore they have all the powers that other higher-level management have and can change the direction of the company.

Detailed explanation-2: -Stakeholders influences the decision making process. They ensure that the organizational work environment remains dynamic, stimulating, and rewarding and there are good working conditions available in the organization so that the organization can perform well.

Detailed explanation-3: -For internal stakeholders, they are important because the business’s operations rely on their ability to work together toward the business’s goals. External stakeholders on the other hand can affect the business indirectly.

Detailed explanation-4: -High involvement in the process by a variety of stakeholders tends to generate better outcomes and a greater sense of ownership. Many organizations are using broad engagement strategies to increase participation in and commitment to strategic planning.